TerreStar Corporation (TSTR) Up 20% in Pre Market Trading

TerreStar Corporation (NASDAQ: TSTR) is up 20% in pre market trading with over 550k shares already traded.

TerreStar did announce this morning an agreement with AT&T (NYSE: T) to bring to market the first fully integrated satellite cellular smart phone.

"TerreStar is pleased to announce AT&T as a distribution channel. TerreStar remains focused on offering an integrated satellite and terrestrial communications solution...," said Jeffrey Epstein, president of TerreStar Networks.

TerreStar should open near $2.57/share. The company will be up 564% year to date upon opening.